Wichita eagle., 1887-08-06
STILL TUMBLING
Corn. the Great staple, Gradually
Dropping Down.

CHICAGO, Aug. 5.-As rains come down
in the corn belt, so mus prices of corn
| come down on Change. Even those who
do not anticipate that the present rains can
save the crop are ready to take advantage
| of the scare and save themselves by selling.
The Wednesday rains which caused corn
to come tumbling down in price yesterday
were supplemented last night by general
rains in parts of Iowa and Nebraska. Be
| sides, kilograms were numerous from points
in Illinois showing the receiving of showers
There was nothing like excitement
over corn to arouse the spec
ulators. The interest of the people
of the whole western country, and the
country orders in such cases are apt to con-
troll the local crowd of spectators. The
moment the market opened this morning
the scene in the corn pit became one of
activity and excitement. Operators
swarmed from other grains and from pro
visions and selling was the order of the
morning. Prices opened from 10 to II 2
cents under yesterday and at once began to
decline. The volume of trading was enor
nous and there was an unsettled feeling
September corn went to SO 3S and a 2
Before noon, however, the crowd recover
ed from its fear, and the leading futures
sold 40 l 4, and still later back to 80 1-2.
Great interest ceHtered in May corn which,
at the outset, sold in various parts of the
pit from A IA down to Al "a, the latter
being given as the first Official quotations
From the opening figure the price was
dragging down to 43 3-8, from which
point it rallied and sold up to A. The
closing quotations for the day left corn
from IA to l 1-2 cent lower.
The bull arguments for wheat seemed to
avail nothing today until near the very
close Early in the day prominent oper-
ators were predicting that the collapse of
the California corner will probably admit
of better markets. A purchase all along
had been regarded as eminent danger and
assistance to the bears in holding prices
down caused the June tumble 1t was
also figured that the increase of visible on
Monday next will be less than 1000, 600
bushels, while one year ago it was over
5000, 600
The receipts of wheat are becoming
lighter and fair amount is leaving Chicago
and exports are moderate September wheat
opened SO s, or 3 s cents under Yesterday
It then declined for want of buyers to 6S
Z 8 and later steadied at about SO. October
then sold at 20 and December at 70 to
"a 1-S, the range of prices half an hour
before closing being 1-2 cent under the
closing at m. yesterday. AT this time
a recovery began and September closed at
60 ! 3
Oats opened weak and 1 lower but dur
ing the morning there was slight advance
which very nearly put prices on par with
Yesterday. A very fair demand existed
and prices were changeable within about
Yesterdays range But closing quotations
as compared with closing of yesterday ex
hibited 8 decline.
Only limited business was transacted
in the market for hog produce; offerings
of some articles were free
early while the demand was light and low
er prices accepted. Later the demand was
fair, while the offerings were light. and a
portion of the decline was recovered.
Short rib sides appeared to be in some
what of an independent basis while mess
pork and lard ruled easier Trading was
chiefly in September, October and January
deliveries.